Daily Market Analysis
2022-11-23
Review our intraday commentary to learn how we interpret price action and build a market narrative.
Drag the blue slider to reveal the day's price action. Dots on the timeline represent comments and can be clicked. View the table below for all market-related comments and annotated charts (including those from after hours).
Abbreviated Comments View all
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| 09:37:25 Pete |
1OP M5 is in a big spike. I want to see some of the bearish cycle before I do anything. |
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| 10:20:12 Pete |
Consumer conf was better than expected. No market reaction |
| 10:22:22 Pete |
The high of the day is at a resistance level from Nov 15. That is the 2 month high and it is significant either way. |
| 10:24:31 Pete |
If we compress at the hod during this bearish cycle, the next bullish cycle will try to get thru that level. If we get through (unlikely IMO because of FOMC min and big rally Tues) there will be a light... |
| 10:43:00 Pete |
Given the big resistance level the SPY is trying to get thru, I want to see this 1OP bear cycle completely. Floating thru that resistance is not going to do it. We need a long green candle thru it. |
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